Southwestern Community College Foundation Inc
- Assets
- $7.6m
- Revenue
- $574.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Sylva, NC
- Founding
- 02/1976
- Data as of
- 06/2023
- EIN
- 23-7322352
Organization Overview
Southwestern Community College Foundation Inc is located in Sylva, NC. The organization was established in 1976. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwestern Community College Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Southwestern Community College Foundation Inc generated $574.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $295.7k during the year ending 06/2023. While expenses have increased by 0.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION, THROUGH ITS INITIATIVES, PARTNERS WITH SOUTHWESTERN COMMUNITY COLLEGE IN ITS EFFORTS TO OFFER HIGH QUALITY, INNOVATIVE INSTRUCTION AND SUPPORT. SEE FULL MISSION STATEMENT ON PAGE 2
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEW CENTURY SCHOLARS (NCS) PROGRAM, FUNDED SOLELY BY PRIVATE GIFTS, IS DESIGNED TO IMPROVE SCHOOL GRADUATION AND INCREASE THE COLLEGE GOING RATE OF LOCAL STUDENTS. IT IS A "LAST DOLLAR" SCHOLARSHIP PROGRAM. OVER 2,498 STUDENTS HAVE BEEN INDUCTED INTO NEW CENTURY SCHOLARS SINCE 1995. IN ADDITION TO WORKING TOWARD THEIR HIGH SCHOOL DIPLOMAS, NEW CENTURY SCHOLARS ARE EXPECTED TO PARTICIPATE IN COMMUNITY SERVICE ACTIVITIES, DEVELOP LEADERSHIP SKILLS, EXPLORE POTENTIAL CAREER OPTIONS AND PREPARE FOR SUCCESS IN COLLEGE. . NCS HIGHLIGHTS: -THE NCS PROGRAM GIVES SOUTHWESTERN COMMUNITY AND THE PUBLIC SCHOOLS AN OPPORTUNITY TO COLLABORATE ON BEHALF OF STUDENT SUCCESS IN OUR REGION.
-SCHOOL BASED SELECTION COMMITTEES MEET ANNUALLY TO SELECT RISING 7TH GRADERS WITH HIGH POTENTIAL FROM THE APPLICANT POOL. -NCS PROVIDES GUARANTEED, LAST-DOLLAR TUITION ASSISTANCE TO PURSUE A DEGREE AT SCC. -STUDENTS, PARENTS, PUBLIC SCHOOLS AND SCC SIGN AGREEMENTS COMMITTING TO SPECFIC STANDARDS/SUPPORT. -COMMUNITY BUSINESSES, INDIVIDUALS AND GROUPS GENEROUSLY PROVIDE FUNDING TO INDUCT NEW COHORTS OF NEW CENTURY SCHOLARS. . THE PROGRAM'S FUNDING IS GENERATED BY ANNUAL DONATIONS FROM RESIDENTS OF JACKSON, MACON AND SWAIN COUNTIES. HTTPS://WWW.SOUTHWESTERNCC.EDU/NEW-CENTURY-SCHOLARS
GENERAL SCHOLARSHIP SUPPORT: SOUTHWESTERN COMMUNITY COLLEGE FOUNDATION WAS ESTABLISHED IN 1973. IT EXISTS SOLELY TO SUPPORT THE MISSION OF SCC AND IS GOVERNED BY A BOARD OF DIRECTORS. THE FOUNDATION RECEIVES UNRESTRICTED GIFTS THROUGH THE SOUTHWESTERN COMMUNITY COLLEGE ANNUAL FUND, A YEARLY CAMPAIGN TO SUPPORT STUDENTS AND THE MISSION OF THE COLLEGE. IN ADDITION, THE FOUNDATION SOLICITS CONTRIBUTIONS FROM INDIVIDUALS, FOUNDATIONS AND COMPANIES TO ESTABLISH ENDOWED NAMED SCHOLARSHIPS, AS WELL AS PROVIDE ANNUAL SCHOLARSHIPS. IN 2022-23 229 SCHOLARSHIPS WERE AWARDED AT A VALUE OF $225,154. FINANCIAL GIFTS TO THE FOUNDATION ALLOW SCC TO MAINTAIN A LEVEL OF EXCELLENCE BEYOND THAT PROVIDED BY STATE AND LOCAL FINANCIAL SUPPORT. THESE GIFTS HELP FUND MANY OF THE "ESSENTIALS" OF EDUCATION, AND ALLOW SCC TO KEEP PACE WITH THE EVER EXPANDING NEEDS OF OUR COMMUNITY. IT ALSO ENABLES US TO SUPPORT OUR FACULTY AND STAFF IN A NUMBER OF WAYS RESULTING IN TEACHING AND STUDENT SUPPORT EXCELLENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brett L Woods Foundation Director | Officer | 12 | $0 |
Dr Don Tomas College President | OfficerTrustee | 2 | $0 |
Lisa Kim Fisher Cfo, Treasurer | OfficerTrustee | 2 | $0 |
Jenny Holland Chair | OfficerTrustee | 2 | $0 |
Brad Hyder Secretary | OfficerTrustee | 2 | $0 |
Diane Sherrill Chair Elect | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $64,534 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $454,763 |
| Noncash contributions included in lines 1a–1f | $52,797 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $519,297 |
| Total Program Service Revenue | $0 |
| Investment income | $147,172 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$129,553 |
| Net Income from Fundraising Events | $37,671 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $574,587 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $225,154 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,260 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,658 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $17,433 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $295,660 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,504 |
| Savings and temporary cash investments | $678,772 |
| Pledges and grants receivable | $38,046 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,860,303 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,639,625 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $284,126 |
| Net assets with donor restrictions | $7,355,499 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,639,625 |